Handling Greek Crisis Not Able to Lift Wall Street
Wall Street still continued pelemahannya although not as big as the previous trade. Stock index is very volatile moves ahead of the release of employment data.
Selling in early trading after the S & P 500 through its lowest point during May at 1311.08, despite the news about the development of Greece’s debt crisis that could trigger a rebound. But finally 3 stock indices on Wall Street remain on the trend of decline and investors worried about the most recent data are likely to disappoint.
“I’ll take a way out with the expected (economic data) tomorrow to give us any other negative shocks, but because of the spread of the data are weak, investors need to see a more robust data package to move us up and it seemed to take several months,” said Christopher Sheldon, director of BNY Mellon Wealth Management, as quoted by Reuters on Friday (03/06/2011)
In trading Thursday (06/03/2011), the Dow Jones closed down 41.59 points (0.34%) to the level 12248.55. The broader Standard & Poor’s 500 index also fell 1.61 points (0.12%) to a level of 1312.94, but the Nasdaq rose 4.12 points (0.15%) to a level of 2773.31.
Banking stocks stabilized after a decline due to the release of news of Goldman Sachs Group Inc. to get a call session of the New York attorney who will seek information about the bank’s role as a global crisis. Goldman shares slumped 1.3%.
While education stocks rose in large volume after the U.S. government loosened policies to cut education aid to run its course lectures that can be profitable. DeVry Inc. shares jumped 14.6% and Apollo Group Inc. rose 11.1%.
Economic data showed initial jobless claims fell a seasonally 6000 422 000, but still above expectations.
Trade runs are not too busy with transactions on the New York Stock Exchange amounted to only 7.2 billion shares, below average last year which amounted to 8.47 billion shares.
Similar Posts:
- National Auto Insurance Rates Rise by One-Fifth of 1 Percent
- Allstate Insurance files fraud claim to recover $4.5m
- York Risk Services Group acquires JI Companies
- Insurers Among “Most Admired” on Fortune’s List
- Taiwan: Take note when appointing a beneficiary as good intentions bring no benefit
